Sources of funds for loan apps under lens
3 years, 11 months ago

Sources of funds for loan apps under lens

Live Mint  

The Reserve Bank of India has begun looking into the sources of funds for app-based instant loan companies accused of harassing vulnerable borrowers, said a person aware of the matter. According to this person, RBI is likely to launch an investigation into whether some banks allowed funds to flow into these apps without conducting mandatory due diligence. The RBI scrutiny follows a probe by the Enforcement Directorate, which has filed a money laundering case on the basis of first information reports registered by police against instant loan apps connected to overseas jurisdictions. “The onus of verifying the end use of funds lies with the banks and RBI, in this case, wants to be certain whether the banks followed proper procedure before lending to some of these apps,” said the person cited above. “If the banks have implemented proper know your customer guidelines, then it’s worth probing whether it was limited to just the customer or customers’ clients,” said a former RBI officialwho requested anonymity.

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History of this topic

Delete these 15 fake loan apps now to protect your bank account, over 80 lakh users affected
3 weeks, 5 days ago

Delete these 15 fake loan apps now to protect your bank account, over 80 lakh users affected

India TV News  

India ranks as the number one country for downloading fake apps, according to a recent report by McAfee. McAfee has identified 15 specific fake loan apps that have been downloaded by millions—about 8 million users in total—mostly from the Google Play Store. These fake loan apps often ask for various permissions when installed, such as access to your calls, messages, …

ED Files Complaint Against NBFCs and Fintech Firms in Loan Scam
4 months ago

ED Files Complaint Against NBFCs and Fintech Firms in Loan Scam

Deccan Chronicle  

Hyderabad: The Directorate of Enforcement, Hyderabad Zonal Officials, have filed Prosecution Complaint against several NBFCs, Fintech companies and individuals involved in instant loan lending business through various mobile applications before the Special MSJ Court, Nampally, Hyderabad under the provisions of Prevention of Money Laundering Act, 2002 and the Court has taken cognizance of the complaint. ED initiated investigation on the …

RBI alarmed at lakhs of bank accounts being used for fraud: Report
5 months, 1 week ago

RBI alarmed at lakhs of bank accounts being used for fraud: Report

Live Mint  

The Reserve Bank of India expressed its surprise at some banks having lakhs of accounts that are used for fraudulent transactions and evergreening loans, reported Business Standard. We found certain banks having lakhs of such accounts with apparently no valid reason,” RBI Deputy Governor Swaminathan J said on Tuesday in his address to banks, with chief financial officers and auditors …

Indian consumers still falling prey to unlawful loan applications: Report
8 months, 1 week ago

Indian consumers still falling prey to unlawful loan applications: Report

India TV News  

One-third of the high-confidence customers have limited knowledge about their digital loans in India. A recent report from the Fintech Association for Consumer Empowerment shared the insights from a customer survey which was conducted between December 2023 and January 2024 to systematically understand the gaps in users' approaches and knowledge about Digital Lending Applications in India and it further drives …

RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds
8 months, 1 week ago

RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds

Hindustan Times  

Union finance ministry may propose stricter measures to protect citizens from cyber fraud, it was reported. This comes after an increase in incidents of frauds, including the Bank of Baroda World app scam, the Times of India reported citing sources who “mentioned a recent inter-ministerial meeting focused on bolstering cybersecurity and tackling financial fraud”, it noted. In October 2023, the …

Why is RBI so cranky about fintech firms after Paytm crisis?
10 months ago

Why is RBI so cranky about fintech firms after Paytm crisis?

Hindustan Times  

First, Paytm was asked to freeze its banking business, a crackdown so severe that India’s pioneering digital payments firm bled out nearly 60% of its market value in two weeks. While freezing fresh credits into Paytm Payments Bank accounts for “persistent non-compliances and continued material supervisory concerns,” RBI mandated that the bank terminate the nodal accounts of One 97 Communications …

Caught in a web | Non-cooperation of banks and internet intermediaries a big hurdle for cybercrime probes
10 months, 3 weeks ago

Caught in a web | Non-cooperation of banks and internet intermediaries a big hurdle for cybercrime probes

The Hindu  

A fake investment scheme cracked in October 2023, involving a network of 84 bank accounts with transactions worth over ₹850 crore, and a work-from-home scam unearthed last week, involving a network of 30 bank accounts with transactions worth over ₹150 crore, were detected by following the trail of money laundered through several bank accounts. “Opening these bank accounts is a …

Fraudulent loan apps proliferate in India. But how big of a problem are they?
11 months, 3 weeks ago

Fraudulent loan apps proliferate in India. But how big of a problem are they?

Firstpost  

The Centre has ordered popular social media platforms and other websites not to host The Centre is cracking down on fraudulent loan apps. The government on Wednesday ordered social media platforms and other websites not to host Union minister Rajeev Chandrasekhar said, “One of the areas we are now cracking down on is advertising of fraudulent loan apps that many …

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR
1 year, 2 months ago

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR

The Hindu  

A group of persons allegedly hacked into a payment gateway service provider company’s account and siphoned off funds worth over ₹16,180 crore from different bank accounts over a period of time, the Thane police said. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra’s Thane city of hacking …

Ponzi scam: Odisha Police arrests India head of Chinese earning app from Tamil Nadu
1 year, 4 months ago

Ponzi scam: Odisha Police arrests India head of Chinese earning app from Tamil Nadu

Hindustan Times  

The Economic Offence Wing of Odisha Police on Thursday said it has arrested India head of Chinese earning Aap, involved in an online ponzi scam, officials said. Police said that after banning of loan apps they started running Earning Apps, online betting and other App based cyber-financial frauds. Law Enforcement Agencies started crackdown against Chinese Loan Apps after many people …

RBI to start pilot on Public Tech Platform for frictionless credit
1 year, 4 months ago

RBI to start pilot on Public Tech Platform for frictionless credit

The Hindu  

The Reserve Bank of India has announced the development of a Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub, a wholly-owned subsidiary of RBI. Currently, data needed for credit appraisal are available with different entities like Central and State governments, account aggregators, banks, credit information companies, and digital identity authorities. In this context, the Public Tech Platform …

7 reasons why it is essential to stay cautious of digital lending apps
1 year, 4 months ago

7 reasons why it is essential to stay cautious of digital lending apps

Live Mint  

With the rapid advancement of technology and the proliferation of smartphones, the fintech industry in India has witnessed significant growth in recent years. Predatory lending practices Digital lending apps often target vulnerable individuals who may have limited access to formal banking services or who urgently require funds. Data privacy and security concerns Digital lending apps typically require borrowers to share …

How fake loan apps extort money and push people into debt traps
1 year, 5 months ago

How fake loan apps extort money and push people into debt traps

The Hindu  

July 13, 2023 08:56 pm | Updated July 14, 2023 01:07 pm IST - Bengaluru Bengaluru Ramesh Reddy, 35, borrowed ₹2 lakh for a couple of weeks from a money-lending app a month ago to tide over a crisis in his business. Good Bye.” Flood of apps Loan apps advertised on social media platforms, like Facebook and Instagram, are an …

Apple removes 6 loan apps from App Store: Read how predatory loan apps target the vulnerable and how to stay safe
1 year, 5 months ago

Apple removes 6 loan apps from App Store: Read how predatory loan apps target the vulnerable and how to stay safe

Op India  

Apple has reportedly removed six predatory personal loan apps from App Store in India in the first week of July 2023. A user reviewed the app on App Store and said, “I borrowed an amount in a helpless situation and a day before repayment due date I got some messages with my pic and my contacts in my phone saying …

Bengaluru cops book 15 loan apps for hacking into borrower’s phone
1 year, 5 months ago

Bengaluru cops book 15 loan apps for hacking into borrower’s phone

The Hindu  

Bengaluru Bengaluru East Cyber Crime, Economic Offences and Narcotics Police have booked 15 loan apps for hacking into a mobile phone of a borrower, and morphing pictures stolen from the cell phone. The police have booked Easy Money Loan App, Salarypls, Easy Loan, Cash Me, Pocket Me, Get Rupee, Incash, Money, Rainbow Money, Magic Loan, Homecash Delhi Credit, Shinny Loan, …

Digital Loan Apps in India denied access to user location and call logs: Know Google’s latest guidelines
1 year, 6 months ago

Digital Loan Apps in India denied access to user location and call logs: Know Google’s latest guidelines

India TV News  

Digital loan apps have emerged as a troublesome issue in recent years, exploiting individuals looking for quick and easy money. The companies responsible for these apps no longer have access to sensitive data, including contacts, photos, videos, location information, and call logs from users' devices. Moreover, Google is now demanding that all legitimate app companies provide supporting documentation to verify …

Chinese Loan Apps Exploited Covid Crisis, Weak Regulatory Framework to Cheat Millions of Indians, Says ED
1 year, 9 months ago

Chinese Loan Apps Exploited Covid Crisis, Weak Regulatory Framework to Cheat Millions of Indians, Says ED

News 18  

Chinese loan apps took advantage of the Covid crisis in India and cheated millions of gullible people who were in a financial mess. The central investigating agency has highlighted how the Chinese apps took advantage of a weak regulatory framework in India to make mind-boggling profits. Indian investigating agencies are keeping an eye on loan apps like Money View, Krazy …

Andhra Pradesh: Probe into loan app cases finds links with servers operating from Pakistan, China
2 years, 2 months ago

Andhra Pradesh: Probe into loan app cases finds links with servers operating from Pakistan, China

The Hindu  

The police have sounded alert as the investigation into the loan app fraud and harassment cases have found links with servers operating from Pakistan, China, Bangladesh, Nepal and other countries. “The investigating officers have found that the addresses of these loan app operators and the WhatsApp numbers used in the transactions have links with Pakistan, Bangladesh, China and Nepal. The …

ED seizes ₹46.67 crore in money laundering probe into HPZ Token app case
2 years, 3 months ago

ED seizes ₹46.67 crore in money laundering probe into HPZ Token app case

The Hindu  

The Enforcement Directorate has seized ₹46.67 crore lying in various bank and virtual accounts in connection with a money laundering probe involving the HPZ Token app that allegedly promised its users large gains against investments in mining machines for bitcoin and other cryptocurrencies. “Shigoo Technology Private Limited was also found linked to various Chinese-controlled companies.several other companies were receiving funds …

RBI to Prepare Whitelist of Legal Loan Apps as Nirmala Sitharaman Cracks Down on Illegal Apps
2 years, 3 months ago

RBI to Prepare Whitelist of Legal Loan Apps as Nirmala Sitharaman Cracks Down on Illegal Apps

News 18  

The Reserve Bank of India is set to prepare a “Whitelist” of all the legal lending apps, the government said on Friday, following a meeting chaired by finance minister Nirmala Sitharaman a day before. The minister, along with top officials, chaired the meeting to discuss various issued related to illegal loan apps outside the regular banking channels, the finance ministry …

India preparing whitelist of legal loan and finance apps, will ban others soon
2 years, 3 months ago

India preparing whitelist of legal loan and finance apps, will ban others soon

India Today  

Illegal loan apps are flooding the Google Play store and Apple App store. On Friday, the Finance ministry expressed concerns over the increasing number of illegal loan apps on the Google Play store and Apple app store. The decision comes after the union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired a meeting to discuss the various issues related …

The fatal lure of instant loan apps
2 years, 3 months ago

The fatal lure of instant loan apps

The Hindu  

“Mummy, I am leaving.” This is how Amit Yadav, 35, a mechanic from Madhya Pradesh’s Indore, concluded his note on August 23 before adding the words “ek fakir insaan ” below his name and signature. In response, Union Finance Minister Nirmala Sitharaman said the Central government had taken cognisance of such cases where digital loan apps “originating from one particular …

ED raids Chinese loan app firms and payment gateway firms in Bengaluru, freezes accounts worth ₹17 crore
2 years, 3 months ago

ED raids Chinese loan app firms and payment gateway firms in Bengaluru, freezes accounts worth ₹17 crore

The Hindu  

The Directorate of Enforcement conducted raids on six loan app firms owned by Chinese nationals across the city and freezed accounts with ₹17 crores. The premises of Razorpay Pvt Ltd, Cashfree Payments, Paytm Payment Services Ltd and entities controlled and operated by Chinese persons were covered in the search operation. During the search operation, it was noticed that the entities …

Pay Workers in Cash, Crypto Route, Foreign Servers: Sly Ways of Lending App Kingpins - News18
2 years, 3 months ago

Pay Workers in Cash, Crypto Route, Foreign Servers: Sly Ways of Lending App Kingpins - News18

News 18  

Predatory lending by instant loan apps has led to a spate of suicides in several states. PART 1 | India May Ban 300 Apps to Plug the ‘Sleaze Route’ of Predatory Lending The whole architecture of these predatory apps is built in a way so that the Chinese nationals who started everything can escape easily without leaving any footprint, officials …

Entities in Other States Behind Online Loan Frauds, Police Taking Strict Action, Says Kerala Govt
2 years, 3 months ago

Entities in Other States Behind Online Loan Frauds, Police Taking Strict Action, Says Kerala Govt

News 18  

The Kerala government on Monday said that incidents of people being cheated after availing loans through online apps are being reported in the state and the police was taking strict action against the entities involved in such activities even though they are operating from other states. Chief Minister Pinarayi Vijayan said in the assembly that according to information received by …

ED raid on loan apps reveals strong Chinese presence in crypto crimes
2 years, 3 months ago

ED raid on loan apps reveals strong Chinese presence in crypto crimes

The Hindu  

Published : Aug 26, 2022 16:45 IST The Enforcement Directorate, still preoccupied with unearthing corruption and money laundering among opposition politicians, has decided to turn its attention to those involved in the crypto business in the country as well. Entities engaged in predatory lending deposited funds in the rupee wallets of Yellow Tune, which were then converted into cryptocurrency tokens …

When Lending Apps Bully Victims, Debt Trap Sometimes Becomes Deathtrap - News18
2 years, 3 months ago

When Lending Apps Bully Victims, Debt Trap Sometimes Becomes Deathtrap - News18

News 18  

Predatory lending by instant loan apps has led to a spate of suicides in several states. A few months ago, 28-year-old Rajkumar living in Hyderabad also ended his life after facing exactly the same humiliation, which is the modus operandi of Chinese loan apps. PART 5 | Govt Begins Crackdown on Chinese Loan App Companies in Bengaluru, Gurugram, Hyderabad Even …

India May Ban 300 Apps to Plug the 'Sleaze Route' of Predatory Lending - News18
2 years, 4 months ago

India May Ban 300 Apps to Plug the 'Sleaze Route' of Predatory Lending - News18

News 18  

Predatory lending by instant loan apps have led to a spate of suicides in several states. PART 3 | When Lending Apps Bully Victims, Debt Trap Sometimes Becomes Deathtrap Traced to China and suspected to be one of the biggest money laundering scams, the apps are also being watched closely by the Enforcement Directorate, Serious Fraud Investigation Office, Intelligence Bureau, …

Explained | Why has the RBI come out with a framework to regulate digital lending?
2 years, 4 months ago

Explained | Why has the RBI come out with a framework to regulate digital lending?

The Hindu  

The story so far: On August 10, the Reserve Bank of India instituted a framework for regulating the digital lending landscape in the country. The latest set of regulations are based on recommendations received from its Working Group on ‘Digital Lending including lending through online platforms and mobile apps’ which was constituted last January. Lending Service Providers act in partnership …

Four loan app agents held for ‘harassing’ Andhra Minister, YSRCP leader
2 years, 4 months ago

Four loan app agents held for ‘harassing’ Andhra Minister, YSRCP leader

The Hindu  

The Nellore police arrested four persons belonging to a loan app firm on charges of harassing Andhra Pradesh Agriculture Minister Kakani Govardhan Reddy and former Irrigation Minister P. Anil Kumar, demanding repayment of loans advanced to some persons allegedly close to the duo. Mr. Govardhan Reddy, after interacting with the people of his Sarvepalli Assembly constituency during the ‘Gadapa Gadapaku …

Despite awareness and measures to curtail the menace, loan app scams are on the rise in Bengaluru
2 years, 4 months ago

Despite awareness and measures to curtail the menace, loan app scams are on the rise in Bengaluru

The Hindu  

A 37-year-old businesswoman from Yelahanka recently approached the North East Cyber Crime Police to report about five mobile numbers, which were not only spamming her with calls, but had also accessed her trading app to withdraw ₹4,800. At least one in 10 cyber crime cases being reported in the city are related to harassment by loan apps, said senior police …

Under RBI’s ombudsman scheme, 7,813 complaints received against digital apps and recovery agents
2 years, 5 months ago

Under RBI’s ombudsman scheme, 7,813 complaints received against digital apps and recovery agents

The Hindu  

As many as 7,813 complaints against banks and non-banking finance companies, pertaining to digital lending applications and recovery agents, were received under the Integrated Ombudsman Scheme of the Reserve Bank of India during the last financial year, according to the Central government. In a written reply to a question from Lok Sabha member Aparajita Sarangi, the Minister of State for …

RBI finds 600 illegal lending apps operating in India
2 years, 8 months ago

RBI finds 600 illegal lending apps operating in India

India Today  

A Reserve Bank of India Working Group on digital lending has identified a whopping 600 illegal lending apps operating in India in the last year. As per RBI, “Sachet”, a portal established by RBI against unregistered entities, has received approximately 2,562 complaints against digital lending apps between the start of January 2020 to end of March 2021. In December 2020, …

ED attaches assets worth Rs 72 crore of Kudos Finance, others in money laundering case
2 years, 11 months ago

ED attaches assets worth Rs 72 crore of Kudos Finance, others in money laundering case

India Today  

The Enforcement Directorate has attached assets worth over Rs 72 crore in connection with a money laundering case involving Kudos Finance and Investments Private Limited, an Indian NBFC, and its various fintech partner companies, officials said. The attachment under the Prevention of Money Laundering Act, includes money lying in various bank accounts and payment gateway accounts of Kudos Finance and …

Govt issues warning, says installing unknown lending apps may compromise data
3 years ago

Govt issues warning, says installing unknown lending apps may compromise data

Hindustan Times  

The central government has advised people to stay away from instant mobile application-based lenders, which could land them in trouble. Further, the Cyber Dost Twitter handle has asked people to be vigilant before installing unknown applications on their mobile phone that provide loan. These RBI too has been cautioning people against loans being offered by unauthorised digital platforms, mobile applications …

Beware! 600 fake money lending apps operating in India, says RBI report
3 years ago

Beware! 600 fake money lending apps operating in India, says RBI report

India TV News  

Highlights As many as 600 illegal money lending apps are operating in India, says RBI These apps are available on multiple app stores for Android users These apps can search through key words like loan, instant loan, quick loan, etc Fake Money Lending Apps in India: As many as 600 illegal money lending apps are operating in India, a report …

RBI report finds 600 illegal loan apps operating in India
3 years, 1 month ago

RBI report finds 600 illegal loan apps operating in India

The Hindu  

A Reserve Bank of India Working Group on digital lending, including lending through online platforms and mobile apps, has stumbled upon more than 600 illegal loan apps operating in India. In course of its filed work to prepare a detailed report on digital lending and to suggest recommendations, the WG found out the existence of over 1,100 unique loan apps …

China-based online money laundering racket using cryptocurrencies exposed: Cops
3 years, 6 months ago

China-based online money laundering racket using cryptocurrencies exposed: Cops

Hindustan Times  

Uttarakhand police claims to have busted an online racket suspected to have cheated at least ₹250cr from unsuspecting investors by promising to double their money in 15 days but siphoning it out of India instead by converting it into crypto currency. One Pawan Kumar Pandey, accused of running a shadow company to transfer the cheated money to his alleged “handlers …

Government planning crackdown on apps offering cash loans online
3 years, 9 months ago

Government planning crackdown on apps offering cash loans online

Hindustan Times  

The government is planning a crackdown on apps offering cash loans, exploring new regulatory options that could ban coercive recovery procedures, cap the rate of interest and require mandatory registrations after increasing reports from around the country of people falling into debt traps, with at least 12 cases leading to suicide since late last year. According to a 2007 report …

RBI receives complaints against 1,509 digital lending apps
3 years, 10 months ago

RBI receives complaints against 1,509 digital lending apps

India TV News  

The Reserve Bank of India intimated that it has received complaints against 1,509 digital lending applications, Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha on Monday. The RBI has received complaints against 1,019 unregistered or unregulated digital loan applications and 490 registered NBFCs that are engaged in digital lending, he said. …

RBI received complaints against 1,509 digital lending apps
3 years, 10 months ago

RBI received complaints against 1,509 digital lending apps

Hindustan Times  

The Reserve Bank of India intimated that it has received complaints against 1,509 digital lending applications, minister of state for finance Anurag Singh Thakur said in a written reply to the Lok Sabha on Monday. The central bank in December cautioned the general public against unauthorised digital lending platforms/apps with an appeal to verify the antecedents of the service provider. …

Dummy directors, identical websites, lucrative rewards: The making of a Chinese betting shark
3 years, 11 months ago

Dummy directors, identical websites, lucrative rewards: The making of a Chinese betting shark

India Today  

Hundreds of complaints and several suicides have forced police in different cities to crack down on Chinese loan apps. His lawyer Pankaj Singh alleges that his client was framed in the case by Chinese directors of firms that are now also said to be linked to the mobile loan lending scam. How Chinese loan apps work Chennai resident Nataraj, 35, …

RBI panel to examine digital lending risks
3 years, 11 months ago

RBI panel to examine digital lending risks

Live Mint  

The Reserve Bank of India on Wednesday said it has formed a working group to study aspects of digital lending by regulated and unregulated players, including mobile apps. “The recent spurt in the popularity of online lending platforms/mobile lending apps has raised certain serious concerns that have wider systemic implications,” RBI said, adding that the working group will examine all …

RBI forms working group on digital lending
3 years, 11 months ago

RBI forms working group on digital lending

The Hindu  

The Reserve Bank of India has constituted a working group on digital lending — including online platforms and mobile apps — to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players. “While penetration of digital methods in the financial sector is a welcome development, the benefits and certain downside risks are …

Instant Loan Apps Cases: Chinese National Among Two Arrested in Maharashtra
3 years, 11 months ago

Instant Loan Apps Cases: Chinese National Among Two Arrested in Maharashtra

News 18  

Two people, including a Chinese national were arrested on Wednesday in connection with the ongoing probe by police against instant app-based lenders, accused of harassing borrowers over repayment. "The arrested Chinese national came to India in July 2019 on a business visa and worked as a representative on behalf of three Chinese nationals, who are directors of some micro finance …

Telangana: Police arrest another Chinese national in loan app scam
3 years, 11 months ago

Telangana: Police arrest another Chinese national in loan app scam

India Today  

In its ongoing investigation against instant loan apps, the Rachakonda police arrested another Chinese national on Wednesday. While at least six persons have committed suicide due to the alleged harassment of the instant loan providers, police are facing a language barrier while investigating the Chinese nationals arrested during the investigation and believed to be the mastermind of the fraud. Top …

Deep Dive | How China-based money lending apps are devastating gullible Indian borrowers
3 years, 11 months ago

Deep Dive | How China-based money lending apps are devastating gullible Indian borrowers

India Today  

China saw a spate of incidents involving 'loans for nudes' scams in 2016. Such mobile apps are hardly ideal as they involve exorbitant interest rates and like the earlier example, access the private data from the borrowers' phone. INDIAN SECURITY AGENCIES GET CRACKING The Central Crime Branch of the Chennai Police on Sunday arrested two Chinese nationals in Bengaluru for …

Telangana Police Seek RBI, Others' Help as Part of Probe Against App-based Lenders
3 years, 11 months ago

Telangana Police Seek RBI, Others' Help as Part of Probe Against App-based Lenders

News 18  

The Telangana police as part of the probe on cases against instant app-based lenders accused of harassing borrowers over repayment have sought data from Reserve Bank and other agencies, a senior police official said on Tuesday. The police are also engaging experts for data analysis for studying the voluminous data as a preliminary investigation into the financial transactions of the …

Financial fraud | Usury travels online, thrives during pandemic
3 years, 11 months ago

Financial fraud | Usury travels online, thrives during pandemic

The Hindu  

Usurious moneylending, or kandhu vatti, has always been a nightmare in Tamil Nadu. “When he/she defaults on payment, they and their contacts start getting messages and calls that are sometimes abusive and threatening in nature,” said a police officer. “They started to impose ₹100 to ₹200 as interest for every day after the stipulated seven days,” Mr. Puthiyavan said. These …

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